Standard Chartered Considers Splitting Corporate, Investment Bank, Bloomberg Reports

-- Standard Chartered is considering splitting up its corporate, commercial & institutional banking segment, Bloomberg reports citing unnamed sources.

-- A restructuring of the unit could lead to separating the operations of its investment bank from those of its corporate and commercial bank, according to Bloomberg.

-- The move from the London-based lender--which makes most of its money in Asia and the MENA region--could lead to job cuts but no final decision has yet been made, Bloomberg reports.

-- The bank made almost two thirds of its income from the unit in the third quarter of 2023.

-- Standard Chartered declined to comment when contacted by Dow Jones Newswires.

Full story: http://tinyurl.com/2p9m9fub

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

February 13, 2024 11:55 ET (16:55 GMT)

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